Mandom Corporation

What Mandom Corporation does

Mandom Corporation is a 98-year-old Japanese personal care manufacturer headquartered in Osaka, founded in 1927 as Kin Kam Perfume Co., Ltd. The company designs, formulates, manufactures, and distributes mass-market cosmetics and quasi-drugs across men's grooming, women's skincare, hair care, deodorants, and disinfection categories. Its product portfolio centers on heritage brands Gatsby (men's styling and deodorant), Lucido (fragrance-free men's aging care), Bifesta (women's cleansing), and Lucido-L (women's hair care with argan oil), supplemented by regional brands Pixy and Silkygirl in Southeast Asia, plus newer launches including MA-T Pure disinfection, aono men's organic skincare, ium men's beauty appliances, ZFACE, Levata, HOLIDEA, and T/ME U. Underlying technology spans cosmetics formulation, proprietary TRP (TRiP) channel sensory receptor research spanning 20+ years, hair and scalp science, dermatology, sweat/odor control, and specialty technologies like Natural Vicel nano-carrier delivery and Inside Lock hair styling. The company generates revenue through wholesale and retail distribution across drugstores, convenience stores, supermarkets, professional salons (via Piacelabo subsidiary), e-commerce including Tmall Global cross-border, and 19 overseas subsidiaries across 12 Asian countries. Following the $651.5 million acquisition by CVC Capital Partners in 2025, Mandom delisted from the Tokyo Stock Exchange in May 2026 and is currently executing leadership restructuring and its MP-14 medium-term plan targeting ¥100 billion revenue by FY March 2028.

Name

Mandom Corporation

Legal name

株式会社マンダム

Website

https://www.mandom.co.jp/en/

Company type

Public

Founded year

1927

Operating status

Acquired

Headcount range

5,001–10,000 employees

Short description

Mandom Corporation is a Japanese personal care manufacturer founded in 1927, selling mass-market men's grooming, women's skincare, and deodorant brands (Gatsby, Lucido, Bifesta, Lucido-L) across 12 Asian countries through 19 overseas subsidiaries and Japanese drugstore, salon, and e-commerce channels, currently under CVC Capital Partners ownership.

Ownership category

akta.pro rank

Product category

Personal Care Cosmetics

NAICS

Soap and Cleaning Compound Manufacturing (32561)

SIC

Perfumes, Cosmetics & Other Toilet Preparations (2844), Soap, Detergents, Cleang Preparations, Perfumes, Cosmetics (2840)

akta.pro primary industry

Hair Care (Shampoo, Conditioner, Styling, Treatments) (CRADANAE)

akta.pro secondary industries

Men’s Grooming (Shaving, Beard Care, Aftershave) (CRADANAF), Deodorants & Antiperspirants (CRADANAA), Hand & Body Care (Lotions, Creams, Body Oils) (CRADANAC)

Keywords

• Men's grooming cosmetics
• Personal care products
• Hair styling products
• Skin care manufacturing
• Deodorant body care

Headquarters

HQ city

Osaka

HQ country

Japan

HQ region

Asia

Offices8 records

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Technology or R&D, Infrastructure, Others

Revenue model

1. Cosmetics Manufacturing and Sales: Mandom manufactures and sells cosmetics and quasi-drugs (医薬部外品) across multiple categories including hair styling, hair care, face care, body care, and hygiene products. Revenue is generated through both domestic Japanese operations and overseas subsidiaries across Asia.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

Mandom Corporation manufactures and sells mass-market personal care products and quasi-drugs across multiple categories including men's grooming (hair styling, deodorant, body care, facial care), women's cosmetics (cleansing, skincare, hair care), and specialized categories (beauty appliances, disinfection, organic skincare, eyelash care). The company operates a multi-brand portfolio including Gatsby, Lucido, Bifesta, Lucido-L, Pixy, Silkygirl, and several specialty sub-brands, distributed through drugstores, convenience stores, supermarkets, professional salons, e-commerce, and 19 Asian subsidiaries.

Product overview

Mandom Corporation is a Japanese cosmetics manufacturer operating as a multi-brand portfolio company with two main business segments: Men's Business and Women's Business. The portfolio comprises multiple distinct brands spanning hair styling (Gatsby, Lucido), hair care (Lucido-L), facial/cleansing care (Bifesta), body care (Happydeo), and specialized categories including beauty appliances (ium), men's organic skincare (aono), disinfection (MA-T Pure), and eyelash care (Kukuilash). Key global brands include Gatsby (hair styling, body care - strongest in Asia), Lucido (fragrance-free men's skincare for middle-aged men), Bifesta (women's cleansing), Lucido-L (women's hair care with argan oil), Pixy and Silkygirl (Southeast Asia-focused). Regional brands target specific markets: Indonesia (Pixy, Silkygirl), Japan (Gatsby, Lucido, Bifesta, Lucido-L), and ASEAN countries (Gatsby, Pixy, Silkygirl). The company also operates domestic subsidiaries including Piacelabo (professional salon products), MBS (insurance/travel), and Mandom Will. Newer brands launched 2020-2024 include MA-T Pure (disinfection), aono (men's organic), ium (men's beauty appliances), HOLIDEA (spa skincare), Levata (head massage), ZFACE (face training skincare), T/ME U (post-bath hair care), and KNOWLEDGE (men's skincare PB).

Differentiator

Problem solved

Functional benefit

Brands

• Gatsby (ギャツビー): Personal care brand for men focusing on grooming and styling, popular across Asia
• Lucido (ルシード)
• Bifesta (ビフェスタ)
• Lucido-L (ルシードエル)
• Pixy (ピクシー)
• Silkygirl
• aono (アオノ)
• ium (イウム)
• KukuiLash (ククイラッシュ)
• MA-T Pure (エムエーティ ピュア)
• Happydeo (ハッピーデオ)
• Barrier Repair (バリアリペア)
• Z-Face (ゼットフェイス)
• Levata (レバタ)

Products and services

• Gatsby (ギャツビー) Men's grooming brand offering hair styling products (wax, grease, foam, spray), facial care, body care, and deodorant products including cooling body waters and facial sheets. Known for innovative products and iconic advertising campaigns including the Saturn deodorant rings and shower papers developed for JAXA/ISS use.
• Lucido (ルシード) Japan's first fragrance-free men's cosmetics brand targeting middle-aged men aged 40+. Offers medicated deodorant body wash, scalp care, skincare, and hair color products designed for changing needs of middle-aged males including middle-aged oily odor (middle-aged脂臭) care.
• Bifesta (ビフェスタ) Women's skincare brand offering cleansing products including micellar makeup removers, carbonated bubble face wash, and skincare serums. Popular for limited edition designs including Disney and Sanrio character collaborations targeting consumers seeking effective makeup removal and skincare.
• Lucido-L (ルシードエル) Women's hair care brand featuring natural argan oil products, texture reconstruction series with salon-derived acid heat treatment ingredients, and hair color products. The Argan Rich Oil series has cumulative shipments exceeding 24 million units.
• Pixy (ピクシー) Women's cosmetics brand focused on Southeast Asia markets (Indonesia and other countries) that pursues each individual's original beauty rather than standardized aesthetics, maximizing each person's natural beauty.
• Silkygirl (シルキーガール) Southeast Asia-focused makeup brand offering color cosmetics tailored to the preferences of Southeast Asian consumers, available in Malaysia, Singapore, and Indonesia.
• ium (イウム) Men's beauty appliance brand offering hair dryers, straightening irons, multi-trimmers, and light-based hair removal devices designed specifically for men with refined design and proven functionality.
• aono (アオノ) Men's organic cosmetics brand targeting men dealing with skin and mental changes. Features naturally-derived ingredients and proprietary Natural Vicel high-permeation technology for men's inner-dry skin concerns. Sold online.
• MA-T Pure (エムエーティ ピュア) Disinfection and deodorant brand using MA-T (on-demand chlorous acid ion aqueous solution) technology. Offers instant-generating chlorine ion aqueous solution for virus, bacteria, and odor removal with high safety profile.
• Kukuilash (ククイラッシュ) Eyelash serum brand featuring kukui nut oil and advanced hair technology to guide eyelashes toward impressive lashes even without makeup. Targets users wanting to enhance eye presence.
• Levata (レバタ) Head massage care brand targeting modern 'head fatigue' among busy contemporary people. Proposes a 'meditation shampoo method' in collaboration with 'Goku no Kimochi' for relaxing scalp care.
• ZFACE (ゼットフェイス) Skincare and face training brand co-developed by Mandom and RIZAP that combines skincare products with face training (表情筋トレーニング) for expression commitment, targeting men and women wanting to improve facial expressions.
• Happydeo (ハッピーデオ) Body and face care sheet products offering cooling, moisturizing, and deodorant effects. Features multiple scent variants, extreme cooling (極氷冷) options, and various character collaborations including Disney designs.
• Barrier Repair (バリアリペア) Sensitive skin care line for babies and infants offering sheet masks, sleeping packs, and moisturizing products with barrier repair formulations.
• Timeu (タイムユー) Time-based beauty products for men, focusing on the 'golden time' after bathing when hair is most receptive. Proposes 'post-bath time beauty' as a new daily care habit.
• Baby Veil (ベビーベール) Baby care product line offering body care and hygiene products for infants.

Quantifiable outcome

• Over 60% hair styling market share in Indonesia
• +1 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability3 records

Feature7 records

Partnerships

Ten partnerships are on record, tiered minor and core.

• RIZAP (ライザップ)minorStrategic or Co-development Partner · 22 August 2024Joint development of 'ZFACE' skincare brand combining skincare with facial training programs
• Osaka University - Graduate School of Pharmaceutical SciencescoreStrategic or Co-development Partner · 13 April 2024Establishment of 'Mandom Advanced Cosmetics Science Collaborative Research Institute' for advanced research and rapid social implementation
• MatsukiyoCocokara & CompanyminorChannel Partner/ Reseller/ Distributor · 26 February 2024Co-development of men's skincare and hair care private brand 'KNOWLEDGE' for drugstore channel
• 悟空のきもち (Goku no Kimochi)minorStrategic or Co-development Partner · 24 August 2023Co-development of 'Levata' head massage brand with meditation shampoo method
• LoftminorChannel Partner/ Reseller/ Distributor · 28 September 2021Sales partnership for gatsby THE DESIGNER brand launch through Loft stores nationwide
• Kitasato University - School of PharmacycoreStrategic or Co-development Partner · 1 March 2021Joint research course 'Skin Science Joint Research Course (Mandom)' in pharmaceutical department
• ANA (All Nippon Airways)minorStrategic or Co-development Partner · 16 February 2021Joint development of 'ANA × Mfor Bright Sky Series' skincare products for in-flight use addressing dry skin at high altitudes
• Henkel-Shiseido J-Beauty Innovation HubminorStrategic or Co-development Partner · 23 March 2019Strategic collaboration in Tokyo (March 2019) for J-Beauty innovation
• JAXAminorStrategic or Co-development PartnerSpace shower paper developed for International Space Station (ISS) use
• UN Global CompactcoreOthersParticipant in UN Global Compact supporting 10 principles on human rights, labor, environment, and anti-corruption

Scale indicators9 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• Beiersdorf:
• Unilever: Unilever is a global consumer goods giant with personal care brands (Dove, Rexona, AXE, TRESemmé) competing directly with Mandom's deodorants and hair care across Asian markets. Comparable mass-market positioning and global distribution footprint far larger than Mandom.
• Kobayashi Pharmaceutical: Kobayashi Pharmaceutical is a Japanese OTC and personal care manufacturer with overlapping product lines (deodorants, skin care, hygiene products under brands like Deoco, Kao). Comparable mass-market drugstore distribution and Japan-centric revenue mix.
• Pola Orbis Holdings: Pola Orbis is a mid-sized Japanese cosmetics group with multi-brand strategy comparable to Mandom's portfolio approach. Operates POLA, ORBIS, H2O Plus, THREE across men's and women's grooming categories. Domestic-focused like Mandom with similar channel exposure in Japanese drugstores and department stores.
• Shiseido Company: Shiseido is a global Japanese beauty conglomerate spanning prestige and mass-market segments. While positioned more premium, it competes for Japanese male grooming wallet and operates large R&D in sensory science. Indirect overlap in skin care, deodorant-adjacent categories, and Asian distribution.

Direct peers

• Kao Corporation: Kao is a Japanese global CPG/cosmetics company with comparable product categories (hair care, skin care, deodorants under brands like Merit, Curel, Segreta, Blaune) and overlapping mass-market distribution through Japanese drugstores. Kao is a direct domestic competitor with broader portfolio and global scale.
• Lion Corporation: Lion is a Japanese household and personal care manufacturer with similar product categories (oral care, hair care, skin care under KireiKirei, Clinica, Gatsby competitor Plantec). Competes directly with Mandom in Japanese drugstore channels and has comparable mass-market positioning.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key highlights7 records

Customer concentration

• Xtwitter.com/mandom_corp
• LinkedInlinkedin.com/company/mandom-corporation

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries19 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mandom Corporation